3. We Slow as We Age, but May Not Need to Slow Too Much. Finally, some good news. Footnote. Last Thanksgiving I ran my first marathon in a long time. My time was only 5 minutes slower than my personal record from a decade earlier. Probably my greatest athletic performance ever. A legend in my own mind.

Based upon tax case law, estate tax compliance is like speed limit enforcement, 5 miles an hour over the posted limit, troopers look the other way. Similarly, stretch property valuations and annual gift discounts +/- 5 or 10 percent on estate tax returns; no harm, no foul.

How Fred and Donald, and then just Donald, via their estate attorneys, drove 120 miles per hour on streets marked as “40”, year after year, I have no idea. Does the “I” in IRS stand for “Incompetent”?

Something else I have no idea about. How do any honest, hardworking people of modest means, who pay all of their taxes, support this serial short cutter whose actions suggest he doesn’t give a damn about the common good?

“They (father Fred and Donald) were both fluent in the language of half-truths and lies, interviews and records show. They both delighted in transgressing without getting caught. They were both wizards at manipulating the value of their assets, making them appear worth a lot or a little depending on their needs.

Those talents came in handy when Fred Trump Jr. died, on Sept. 26, 1981, at age 42 from complications of alcoholism, leaving a son and a daughter. The executors of his estate were his father and his brother Donald.

Fred Trump Jr.’s largest asset was his stake in seven of the eight buildings his father had transferred to his children. The Trumps would claim that those properties were worth $90.4 million when they finished converting them to cooperatives within a few years of his death. At that value, his stake could have generated an estate tax bill of nearly $10 million.

But the tax return signed by Donald Trump and his father claimed that Fred Trump Jr.’s estate owed just $737,861. This result was achieved by lowballing all seven buildings. Instead of valuing them at $90.4 million, Fred and Donald Trump submitted appraisals putting them at $13.2 million.

Emblematic of their audacity was Park Briar, a 150-unit building in Queens. As it happened, 18 days before Fred Trump Jr.’s death, the Trump siblings had submitted Park Briar’s co-op conversion plan, stating under oath that the building was worth $17.1 million. Yet as Fred Trump Jr.’s executors, Donald Trump and his father claimed on the tax return that Park Briar was worth $2.9 million when Fred Trump Jr. died.

This fantastical claim — that Park Briar should be taxed as if its value had fallen 83 percent in 18 days — slid past the I.R.S. with barely a protest. An auditor insisted the value should be increased by $100,000, to $3 million.”